Amazon Web Services has announced a new series of price cuts for its S3 object storage service that will see drops of around a quarter in most Regions, including Sydney.

"We have lowered prices on 23 occasions in the last few years, largely in the absence of any competitive pressure to do so," Amazon Web Services head Andy Jassy said at the AWS re:Invent customer conference in Las Vegas.

"And actually I have one more price reduction to talk about. I'm excited to tell you guys we are lowering the price for Amazon Simple Storage Service, Amazon S3, by about 25 per cent across the board."

S3 prices are being cut by about 24 to 28 per cent in all AWS Regions. In the Sydney Region the price drop is around a third for many S3 tiers. For the first terabyte per month the price has fallen from US$0.14 per gigabyte to $0.105 per GB per month, a drop of 25 per cent. The other five tiers have drops ranging from 35 per cent to 14 per cent (for storage over 5000TB).